Expert review and submission to HMRC with help from our trusted accounting partners.
VAT, or Value Added Tax, is a tax charged on most goods and services provided by VAT registered businesses. The standard VAT rate is 20% but this will differ depending on the type of goods or services.
Companies are required to register if their taxable turnover exceeds the VAT registration threshold of £85,000 (or is expected to in the following 30 days). Alternatively, companies can register for VAT voluntarily for additional benefits.
If your company needs to register for VAT, or wants to register voluntarily, we can help with assistance from our trusted accounting partners.
Pros and cons of VAT registration
VAT can be recovered by customers if they are also VAT registered businesses and on your costs.
Most goods and services sold by the company will be eligible for VAT.
Companies that are registered for VAT can be perceived as larger or more established.
Smaller clients may not be VAT registered and be able to reclaim the costs and find the costs of your goods or services unaffordable.
VAT return filing requirements add an additional burden.
How to register for VAT
- Select our VAT registration service and checkout.
- One of our accounting partners will contact you to prepare and file the VAT application.
- Confirmation of your successful registration will be shared via email once approved by HMRC.
Throughout the registration process, the accountants will be on hand to answer any questions that you may have.
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Frequently Asked Questions!
Do I need to register for VAT?
The current threshold is a total taxable turnover of more than £85,000.
What is voluntary VAT registration?
Voluntary VAT registration is when you register despite not exceeding the £85,000 threshold. Many companies choose to register voluntarily to:
- Reclaim VAT paid on goods or services.
- Make the company seem more established.
- Keep more accurate records.
How long does VAT registration take?
Once you apply for VAT registration, a VAT registration certificate should be received within 30 working days. This time may vary depending on HMRC’s workload or whether further information is required to supplement the application.
What is required to register for VAT?
To register for VAT, the following information will be required:
- Company name and registration number
- Details of turnover and nature of business
- Bank account details
- Unique Taxpayer Reference (UTR)
Our accounting partners will be able to discuss the required information and documents with you in greater detail.
Can I reclaim VAT?
Once you are registered, you can reclaim VAT on goods that were purchased and are still used for business purposes. For services purchased before registering, you can reclaim VAT for purchases up to 6 months prior providing they were also for business purposes. All claims will require receipts and some restrictions will apply to goods or services already used or sold before registration.
What is the threshold for VAT registration?
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What happens if I do not register for VAT?
If a company fails to register for VAT when they have exceeded the threshold, it will receive a penalty from HMRC calculated by the amount of VAT due and how late HMRC were notified with a minimum penalty of £50.
How do I apply for VAT de-registration?
You can cancel VAT registration by filing online with HMRC. Within 3 weeks, HMRC should confirm the cancellation and the date of cancellation.
How do I find my VAT registration number?
Your company’s VAT number can be found on your Certificate of VAT Registration that will be received once HMRC have approved the registration.
Is there any exemption from VAT registration?
You may not be required to register your company for VAT if you only sell or supply goods or services exempt from VAT. HMRC provides further guidance on exempt and partly exempt businesses.
What are the benefits of VAT registration?
The benefits of VAT registration include:
- The company can reclaim VAT paid on goods or services.
- Possibility to increase business opportunities – some will only work with VAT registered companies
- VAT registration can make the company seem larger and more established.
- The company can maintain more accurate financial records.
How can you check VAT registration status?
HMRC have an online search function that allows you to confirm that a VAT registration number does belong to the specified company.